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How much is classified as property

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Question - Use the following information for the next four questions: ABC Co. has the following assets.

Maize plants 40,000

Wool 6,000 Processed fruit 20,000

Logs 60,000

Trees in a timber plantation 200,000

Grape vines 120,000

Cotton plants 20,000

Picked fruit 20,000

Harvested latex 30,000

Roasted peanuts 20,000

Required -

1. How much is classified as biological assets that are accounted for under PAS 41 Agriculture?

2. How much is classified as property, plant and equipment that are accounted for under PAS 16 Property, Plant and Equipment?

3. How much is classified as agricultural produce?

4. How much is classified as inventory?

Reference no: EM132978508

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